Iowa is the #1 State for Drivers, California is Last
NEW YORK, Dec. 13, 2016 /PRNewswire/ -- Iowa is the best state for drivers, according to a new Bankrate.com (NYSE: RATE) report. California is the worst. The study evaluated 50 U.S. states based on several factors that impact drivers, including commute time, annual insurance premiums, gas expenditure, cost of car repairs, car thefts and auto fatalities. Click here for more information:
Iowa received first place due to its low insurance premiums, short commute times and less expensive auto repair costs. Ohio, Maine, Wisconsin and Vermont complete the top five states for drivers.
California received the lowest scores of all 50 states for average auto repairs and car thefts; that paired with lengthy commute times for drivers earned the state its last place designation. New Mexico, Nevada, Louisiana and Wyoming round out the bottom five states.
"Transportation is the second highest cost many households face, but that burden doesn't fall equally across states," says Claes Bell, CFA, an analyst with Bankrate.com. "Americans should take into account their costs for insurance, gas and other factors, as well as safety concerns, when considering their daily travel options."
Labor and parts data was provided by CarMD.com, gas spending was calculated with statistics from the Bureau of Transportation and the Oil Price Information Service and insurance costs were compiled from the National Association of Insurance Commissioners. Theft statistics came from the Federal Bureau of Investigation and fatal crash rates were from the Insurance Institute of Highway Safety. Commute times were determined from the U.S. Census.
About Bankrate.com:
Bankrate.com provides consumers with the expert advice and tools needed to succeed throughout life's financial journey. For over two decades, Bankrate.com has been a leading personal finance destination. The company offers award-winning editorial content, competitive rate information, and calculators and tools across multiple categories, including mortgages, deposits, credit cards, retirement, automobile loans, and taxes. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to more than 100 cobranded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the internet, such as Comcast, Yahoo!, CNBC and Bloomberg. In addition, Bankrate licenses editorial content to more than 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times and The Los Angeles Times.
For more information:
Kayleen Yates
Vice President, Corporate Communications
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(917) 368-8677
SOURCE Bankrate.com
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